Part of speech: noun

A fraudulent appropriation of funds; embezzlement; also, a deficit.

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Usage examples "defalcation":

  1. The same spirit of justice, which will make every reasonable allowance for the unsuccessful efforts of zeal and loyalty, will not fail to punish the defalcation of principle. - "The Niagara River", Archer Butler Hulbert.
  2. And now, when it came to the turn of any servant, he received sixty- nine shillings instead of seventy, and the cause of the defalcation was explained to him. - "Autobiography of Anthony Trollope", Anthony Trollope.
  3. 3. That, under present circumstances, England is under the necessity of raising seamen, not only for her own navy, but also for the Americans; and that, in proportion as the commerce and shipping of America shall increase, so will the demand upon us become more onerous; and that should we fail in producing the number of seamen necessary for both services, the Americans will always be full manned, whilst any defalcation must fall upon ourselves. - "Diary in America, Series One", Frederick Marryat (AKA Captain Marryat).